FNY Investment Advisers LLC Sells 7,836 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• FNY Investment Advisers LLC has reduced its stake in BridgeBio Pharma by 69.1%, selling 7,836 shares and now holding 3,500 shares valued at $151,000.
• BridgeBio Pharma reported an earnings per share (EPS) loss of ($0.95), missing the consensus estimate, while revenue soared 4999.9% year-over-year to $110.57 million.
• Sixteen analysts currently rate BridgeBio Pharma's stock with a Buy rating, giving it an average price target of $65.25.

FNY Investment Advisers LLC cut its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 69.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,500 shares of the company's stock after selling 7,836 shares during the period. FNY Investment Advisers LLC's holdings in BridgeBio Pharma were worth $151,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BBIO. GAMMA Investing LLC increased its position in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after purchasing an additional 382 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma during the first quarter worth $35,000. GF Fund Management CO. LTD. increased its position in shares of BridgeBio Pharma by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company's stock worth $167,000 after purchasing an additional 871 shares in the last quarter. CWM LLC increased its position in shares of BridgeBio Pharma by 12.8% during the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after purchasing an additional 598 shares in the last quarter. Finally, LVW Advisors LLC acquired a new position in shares of BridgeBio Pharma during the second quarter worth $202,000. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $53.24 on Thursday. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $57.49. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of -13.02 and a beta of 1.36. The firm's fifty day moving average is $52.31 and its two-hundred day moving average is $44.04.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $110.57 million for the quarter, compared to analyst estimates of $98.46 million. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. The firm's quarterly revenue was up 4999.9% on a year-over-year basis. As a group, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank Mccormick sold 74,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $53.16, for a total value of $3,933,840.00. Following the completion of the sale, the director owned 83,275 shares in the company, valued at approximately $4,426,899. This trade represents a 47.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles J. Homcy sold 250,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $46.05, for a total transaction of $11,512,500.00. Following the completion of the sale, the director owned 966,674 shares of the company's stock, valued at $44,515,337.70. This trade represents a 20.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 597,913 shares of company stock valued at $29,034,227 in the last ninety days. Company insiders own 18.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group began coverage on BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 price target on the stock. Piper Sandler upped their target price on BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Finally, Truist Financial began coverage on BridgeBio Pharma in a research report on Monday, July 21st. They issued a "buy" rating and a $66.00 target price on the stock. Sixteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $65.25.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.

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